Technify Motors GmbH is an aircraft Diesel engine manufacturer based in Sankt Egidien, Germany.
In July 2013, Chinese state-owned Aviation Industry Corporation of China (AVIC) acquired the aircraft Diesel engine designs and manufacturing assets of the former Thielert Aircraft Engines GmbH and added them to the Continental Motors Group as Technify Motors GmbH.
[7] On 6 March 2008 Thielert's financial statements for 2003, 2004 and 2005 were nullified by a Hamburg court, on the basis that the company had breached valuation provisions.
The allegations included that false invoices had been written, which were used to boost accounts receivable and create the appearance of a better financial position for the company.
[17] On 5 May 2008 bankruptcy administrator attorney Bruno M. Kubler issued a letter to company customers indicating that the business would continue to operate producing engines and parts, meet existing orders, to preserve its capability to reorganize.
Thielert guaranteed the new engines against defective materials and labor, but parts prices remained at the previously announced high levels.
On Friday 11 July 2008, Thielert issued a press release stating: "the reasons Diamond is presenting for its non-participation are clearly pretext".
In November 2008 Diamond Aircraft CEO Peter Maurer said the insolvency commissioner responsible for Thielert's restructuring has come to understand that the eventual sale of the company will depend on product support.
[5] In 2016 Thielert was sentenced to four years in prison for fraud in misrepresenting the value and financial position of the company during attempts to find buyers and investors.
Continental uses Chinese investment to continue development of the company's products, with an emphasis on extending gearbox inspection periods initially.